Subnostr

Bitcoin Veterans 2y ago

BTC Daily Intelligence Bulletin (DIB)

Block: 824,317

DTG/ICOD: 0800EST 04Jan24

Prcedence: Routine (RR)

Controls: Public Release

QQQQ

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BLUF: Bomb blasts in Iran honoring slain Commander kill dozens / Epstein client files partially released / Business transfers of $10K of crypto must notify IRS

Market Data: Price: 1 BTC= $43,418, 21.13oz Gold

24hr Hi: $43,475 / Lo: $42,125

Vol: $36B (Down 8.5%)

Mkt Cap: $849.1B (Up 2.8%)

HashRate: 555 EH/s

Avg Fees: 21,946 sats/tx (Even)

Nodes: 17,704

---Reports---

-International Events-

1. Iran blast kills dozens: Two bombs exploded and killed at least 84 people at a commemoration for a prominent Iranian general slain by the U.S. in a 2020 drone strike, Iranian officials said, as the Middle East remains on edge over Israel’s war with Hamas in Gaza.(AP)

2. Russia Moves Forward With Plans to Buy Iranian Ballistic Missiles: a step that would enhance Moscow’s ability to target Ukraine’s infrastructure at a critical moment in the conflict, U.S. officials said. Moscow in recent weeks has also begun receiving ballistic missiles from North Korea(WSJ)

-US Events-

1. Epstein client list partially released: Dozens of previously sealed court documents related to Jeffrey Epstein were made public late Wednesday, as a court releases more records from a years-old lawsuit connected to the late financier. The first 40 documents, of around 250 expected to eventually be unsealed, largely mention figures whose names were already known, including high-profile friends of Epstein’s and victims who have spoken publicly.(AP)

2. The US DOJ filed a lawsuit on Wednesday against Texas to stop state officials from having illegal aliens arrested and deported. Last month, Texas Gov. Greg Abbott (R) signed three pieces of legislation into law, including giving state law enforcement the power to arrest illegal aliens for the crime of illegally crossing the United States-Mexico border and local judges the authority to have illegal aliens deported.(Breitbart)

-Regulatory and Legal-

1. New US regulation requires reporting of all crypto transactions over $10,000 to IRS: The Infrastructure Investment and Jobs Act, passed by the US Congress in November 2021, introduced a new provision into the Tax Code. Anyone receiving over $10,000 in cryptocurrency in their trade or business must report the transaction to the Internal Revenue Service (IRS) within 15 days. (Crytobriefing)

-Central Bank Digital Currencies (CBDC)-

1. European Central Bank (ECB) Advances Digital Euro Development With Rulebook Review: The apex body underlined that since its last update in June 2023, they have outlined the mechanics of the digital euro’s services and use cases while defining the rights and obligations of the members under the draft legislation.(Coingape)

-Institutional Concerns-

1. Goldman Sachs Eyeing Bitcoin ETF Role Via BlackRock and Grayscale: The company is in talks to be an authorized participant, or AP, for the ETFs, according to sources who requested anonymity. That's one of the most important jobs in the multi-trillion-dollar ETF industry, a role that involves creating and redeeming ETF shares to ensure the products trade in lockstep with their underlying assets.(CoinDesk)

2. Citi Alumni Unveil Bitcoin Depositary Reserves With SEC Approval-Free Rollout: Notably, the new securities, Bitcoin depository receipts, are peculiarly similar to the American depositary receipts representing foreign stocks. Furthermore, the startup Receipts Depositary Corporation (RDC) seems to be setting its sights on unveiling the initial Bitcoin depositary receipts for qualified global institutional investors, unburdening itself from registrations under the Securities Act of 1933. (Coingape)

-Economic Indicators-

1. Job openings fall in November to fresh 2-year low: The Labor Department said Wednesday there were 8.79 million job openings in November, a decrease from the upwardly revised 8.85 million openings reported the previous month. Economists surveyed by Refinitiv expected a reading of 8.85 million.(Fox)

2. Fed meeting minutes indicate interest rate cuts could be coming in 2024: Minutes from the U.S. central bank's Dec. 12-13 meeting released Wednesday showed that officials are mostly optimistic about the path of inflation, and expect to begin reducing rates sometime this year. (Fox)

-Technological Updates-

NSTR*

-Security Incidents and Concerns-

1. Radiant Capital Loses Digital Assets Worth $4.5 Million After Flash Loan Attack: Radiant Capital, a decentralized finance (defi) platform, confirmed on Jan. 3, 2023, that it fell victim to an attack which saw the “protocol accruing bad debt in the WETH market, totaling about 1.3% of total protocol TVL” or $4.5 million. Radiant Capital has urged the hackers to establish contact with the defi platform before law enforcement is brought in.(bitcoincom) (AC-Don't S#$%Coin)

-Bitcoin Community-

NSTR*

-Bitcoin Sentiment-

1. Fear(0)/Greed(100) Index: 68/100 (Down 2 pts)

Analyst Comments (AC): With the release of the December Fed minutes, it's clear the governors believe inflation has been tamed, while employment begins to weaken. This opens the door for lowering interest rates and possible increases in money supply. The timing is coincident with the upcoming presidential elections which should prove to be exciting, to say the least.

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